Britannia Industries (BRITANNIA) Q3 24/25 earnings summary

Executive summary

• Achieved consolidated Q3 FY25 revenue of ₹4,592.62 crore, up 6.5% year-over-year, with profit after tax growing 4.8% to ₹779.25 crore, despite high inflation and muted demand.

• Market share in biscuits was maintained through distribution expansion, brand investments, and price competitiveness, with volume growth nearly matching revenue growth.

• Strategic focus on expanding direct distribution, rural reach, and leveraging digital and e-commerce channels, with sustained investments in brand building and innovation.

• Board approved results on 6 February 2025, with auditors issuing an unmodified review report.

Financial highlights

• Net sales up 6.5% year-over-year to ₹4,592.62 crore, operating profit up 3%, and profit after tax up 4.5% to ₹779.25 crore.

• Operating profit margin for Q3'25 was 17.1%, and profit after tax margin was 13.0%.

• Cost savings initiatives contributed 2.5% of revenue, and other operating income nearly doubled year-over-year, supported by government incentives.

• Consolidated basic and diluted EPS for Q3 FY25 were ₹24.15, up from ₹23.11 in Q3 FY24.

Outlook and guidance

• Selective price increases and cost efficiency measures are being implemented to offset 11% commodity inflation, with a cost efficiency target of 2.5% of revenue for the next year.

• CapEx for FY25 planned at INR 150-200 crores, with no major expansions anticipated.

• Focus remains on maintaining profit margin ranges and leveraging cost savings to support profitability.